Keep Financial Preparedness in Mind as Hurricane Season Starts

Jun 8
2011

As hurricane season begins, the Texas State Securities Board urges Texans to take steps now to protect their household finances in the event of a disaster.

"It's important to organize and protect your financial records under ordinary circumstances, but Texans living along the Gulf Coast and other areas prone to storms should make sure their documents are secure and protected before disaster strikes,"Securities Commissioner Benette L. Zivley said. "A disaster can strike quickly or with little warning. Taking action now will make the financial part of recovery a little easier."

As outlined in the State Securities Board's Family Guide to Personal Money Management, your financial records should be stored in safe but accessible locations. Hard-to-replace documents should be put in a safe deposit box at a bank or a fireproof box in your home. Make sure your spouse, attorney, friend or relative - whoever would tend to your affairs in the event of your incapacitation - has access to the documents he or she might need.

In a fireproof box at home, the State Securities Board recommends you keep recent tax records, insurance policies, power of attorney, an extra copy of your will, and warranties.

The following items should be kept in a safe deposit box: Automobile title, birth certificates, death certificates, passports, property deeds, education degrees, marriage documents, military records, older tax records, and an inventory of your household possessions - a photographed or videotaped record of major household items and valuables.

These lists are just a starting point. Besides the Family Guide to Personal Money Management, the American Institute of Certified Public Accountants maintains a comprehensive Disaster Financial Issues website. The site provides information on protecting your family with adequate insurance and planning for the possibility of job loss or disability, among many other topics.